Live Nation Entertainment (NYSE:LYV – Get Free Report)‘s stock had its “buy” rating reissued by analysts at BTIG Research in a note issued to investors on Monday, Benzinga reports. They currently have a $215.00 price target on the stock. BTIG Research‘s target price would indicate a potential upside of 23.36% from the company’s current price.
A number of other equities research analysts also recently issued reports on LYV. Benchmark boosted their price target on Live Nation Entertainment from $190.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Wells Fargo & Company raised their price objective on Live Nation Entertainment from $199.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Citizens Jmp boosted their target price on Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 22nd. Weiss Ratings downgraded shares of Live Nation Entertainment from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Finally, Zacks Research upgraded shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a report on Monday, August 17th. Twenty research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus price target of $197.95.
View Our Latest Analysis on Live Nation Entertainment
Live Nation Entertainment Trading Down 0.3%
LYV stock traded down $0.51 on Monday, hitting $174.28. 1,653,370 shares of the company were exchanged, compared to its average volume of 2,519,535. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $41.07 billion, a price-to-earnings ratio of -154.23 and a beta of 1.17. Live Nation Entertainment has a twelve month low of $125.34 and a twelve month high of $189.24. The business’s fifty day moving average is $174.62 and its two-hundred day moving average is $171.81.
Live Nation Entertainment (NYSE:LYV – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.39. The company had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.56 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. Live Nation Entertainment’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the business earned $0.41 EPS. As a group, research analysts forecast that Live Nation Entertainment will post 1.11 earnings per share for the current year.
Insider Activity
In other news, CAO Brian Capo sold 2,900 shares of Live Nation Entertainment stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.00, for a total transaction of $533,600.00. Following the sale, the chief accounting officer directly owned 8,655 shares of the company’s stock, valued at approximately $1,592,520. The trade was a 25.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.89% of the company’s stock.
Institutional Investors Weigh In On Live Nation Entertainment
Hedge funds and other institutional investors have recently bought and sold shares of the business. Axxcess Wealth Management LLC boosted its holdings in shares of Live Nation Entertainment by 35.3% during the third quarter. Axxcess Wealth Management LLC now owns 2,165 shares of the company’s stock valued at $367,000 after acquiring an additional 565 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of Live Nation Entertainment by 134.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 7,843 shares of the company’s stock worth $1,328,000 after acquiring an additional 4,493 shares during the period. Kenora Financial LLC increased its holdings in shares of Live Nation Entertainment by 90.2% in the 3rd quarter. Kenora Financial LLC now owns 9,538 shares of the company’s stock worth $1,615,000 after acquiring an additional 4,522 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Live Nation Entertainment by 12.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 30,621 shares of the company’s stock valued at $5,184,000 after purchasing an additional 3,343 shares during the last quarter. Finally, Cordatus Wealth Management LLC bought a new stake in Live Nation Entertainment in the 3rd quarter valued at about $1,600,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc is a global live entertainment company that promotes, produces and operates concerts, music festivals and other live events. Through its Live Nation Concerts business, the company works with artists and manages event production, marketing and venue operations across a broad range of musical genres.
The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related services for concerts, sports events, performing arts programs and other live entertainment.
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